The Brazilian economy registered a 9.3% decrease in April, in comparison with March, according to data from the GDP-FGV Monitor, released by the Getúlio Vargas Foundation (FGV). In comparison with April of last year, the fall was even greater, of 13.5%. In the moving quarter ended in April, the decline was 6.1%, compared to March.
Pré-Sal Petróleo S.A. (PPSA) closed a settlement of accounts with Petrobras in the amount of R$76 million (14 million). The money corresponds to the Union’s share in the production of oil and natural gas in the Tartaruga Verde Sudoeste field, object of a production sharing contract signed on December 17, 2018.
Brazilian soy exports reached 9.37 million tons in the first three weeks of this month and already exceed the total volume shipped in June 2019 when they totalled 8.5 million tons, according to data from the federal government released on Monday. The same scenario occurred with foreign sales of sugar and oil.
The trade balance registered a surplus of $20.366 billion in the accumulated for 2020. The surplus occurs when exports exceed imports. When the opposite occurs, a trade deficit is recorded. Despite the positive amount, the result is 15.7% lower than the balance of $24.154 billion registered in the same period last year.
Oil and natural gas production in Brazil fell 6.7% in May, reflecting the drop in demand brought about by the COVID-19 pandemic. Oil production decreased 6.5%, to 2.765 million barrels per day, compared to 2.958 in April, while natural gas production decreased 7.7%, to 114.3 million cubic meters.